Alliant Energy Corporation (NASDAQ:LNT) Q4 2022 Earnings Call Transcript

Ashar Khan: Hi, I think some of my question has been answered, but if I can just summarize it. So by the time we come — and hopefully, I’m sure you’ll be able to do it, but if I can just put it in my notebook. So by the time we come to the second quarter call in end of July or early August, you’re expecting some kind of resolution by the courts and IUB, on the advanced rate making process because that is when I guess you need to start construction. Is that a fair kind of like, time line by which this issue has to be resolved by?

Robert Durian: I think that’s a reasonable estimation of the time line. When we think about the second half of 2023 and the start of construction, we’re looking for the opportunity to get through all of the IUB and introduce a reuse by that point in time. We don’t have complete control over that. But again, we’re going to petition the fact that our expeditious review of this will really help support our customers and bring it in those cost-effective solutions for them quicker. So, I think your time frame is, generally speaking, a good one.

Ashar Khan: Okay. And then if I’m right, just I know I hope we don’t get into this situation, but I think so you have said that, that if in case it doesn’t go our way, you can then substitute that CapEx with something pretty quickly, something else in its place so the rate base growth and the earnings growth do not get harmed from the delay in the project or the cancellation of the project. Is that correct — is that the correct assumption as well?

Robert Durian: Yeah. I would say there is a strong need for capacity when you think about as we project out and as part of our resource planning with the retirement of our Lansing coal plants here in the first half of 2023. We know we need additional resources. We think these are the best resource options for us. But if they’re not supported by the process that we’re going through, we do have other potential avenues for capacity resources that we’ll need to put into place.

Ashar Khan: Okay. And my last thing if I may, I might not have heard it properly. So, what is the likely timing of the next Iowa rate case?

John Larsen: Yeah. What I had shared was, we’ll communicate it by the first half of 2024. And again, as we noted, that’s going to be tied to the final timing of our solar projects within IPL.

Ashar Khan: Okay, thank you so much.

Operator: Thank you. There are no further questions at this time. I would now turn the call back over to Ms. Susan Gille for closing remarks.

Susan Gille: This concludes Alliant Energy’s fourth quarter and year-end earnings call. Thank you for your continued support of Alliant Energy and feel free to contact me with any follow-up questions.

Operator: Thank you. Ladies and gentlemen, this concludes your conference call for today. We thank you for participating and ask, that you please disconnect your lines. Have a lovely day.